Installment loan vs payday loan: What’s the difference?
There are a few key differences between installment loans and payday loans. The biggest difference is that installment loans usually have longer terms, typically six or twelve months, while payday loans are usually shorter, three or four weeks. Another difference is that installment loans are generally easier to get than payday loans. You need only have a checking account and a good credit score to qualify for an installment loan, while you need a minimum income and good credit score to qualify for a payday loan. These and other main differences will be discussed in this article. Read more here https://loansexpertnj.com/installment-loan-vs-payday-loan/